Credit risk disciplines The Coronavirus crisis has not so much moved the goal posts for credit management professionals as relocated the game to another stadium and changed half the rules. Nothing is what it was, so while the old basic credit risk disciplines remain vital, there is a whole new range of techniques that must be applied. In this mini-series
The Company Voluntary Arrangement (CVA) has long been a useful weapon in the armoury of business rescue experts, with an infinite flexibility designed to allow solutions to be designed to fit the unique situation of every business with temporary or longer-term issues. Not all CVAs succeed, of course, and there has been concern in recent years about its use to
It is common practice for director/shareholders of owner-managed businesses to take remuneration by way of a low basic salary paid through PAYE, with the remainder being taken as shareholder dividends. This is because dividends typically attract a lower rate of tax (both for the individual and the company) than would be payable as an employee. Yet, although this is common
Businesses struggling to pay their bills were given unprecedented breathing space during the pandemic, as the government closed off every avenue of attack for frustrated creditors. Now the gloves are gradually starting to come off. Landlords are still bound hand and foot and will be until at least the end of March 2022, but other creditors can now use the
There may be many reasons why a business owner or director continues to trade a distressed business rather than seeking professional assistance. In the present circumstances, where government support has propped up businesses, it may even be the case that your company has become insolvent without you realising it. As our recent article on the state of Scottish businesses outlines,
How business has changed Owners and managers were well used to reacting to occasional shifts in their markets before Coronavirus re-set the entire business world. It was an essential part of their job, not just as they considered their results each year or set their annual budgets, but as and when significant events occurred in between. Nothing can have prepared
